Sagax enters Portuguese market with logistics acquisition

Swedish property company Sagax has invested SEK 1.24 bn (€107 mln) in 12 new properties through four separate transactions.

Logistics

These properties cover a total of 106,200 m2 of rentable space and 245,100 m2 of land, generating an annual rental income of SEK 82 mln (€7.1 mln). All properties are fully occupied, and the average remaining lease term is 5.9 years.

Eight of these properties, totalling 96,000 m2 of rentable area and 208,000 m2 of land, are located in Lisbon, marking Sagax's first venture into the Portuguese market. These will be integrated into their Iberia segment, which previously only covered Spain.

The majority of the acquisition value, SEK 1.17 bn (€101 mln), is for properties in Portugal and Spain. The remaining acquisitions are allocated to Sweden (SEK 60 mln/ €5.2 mln) and France (SEK 18 mln/€1.6 mln).

While SEK 18 mln (€1.6 mln) of the acquisitions closed in the first quarter of 2026, the remaining SEK 1.23 bn (€106 mln) is expected to close in the second quarter of 2026. Acquisitions in Portugal are subject to pre-emption rights from local municipalities, but the necessary approvals are anticipated.

As of 31 December 2025, Sagax's total property holdings comprised 1,043 logistics and light industrial properties, covering 5,371,000 m2.